Rental prices in Cape May, NJ have increased by 9.23% over the past year. The average rent moved from $1,483 to $1,620.
Compared to the national average rent of $1,743, the average rent in Cape May, NJ is $1,620.
The average monthly rent of apartments in Cape May, NJ is $1,620.
About 17% of apartment rents in Cape May, NJ range between $2,001-$2,500. Around 19% of Cape May’s apartments are in the $1,501-$2,000 price range. 64% of apartments are priced between $1,001-$1,500.
The largest share of rentals in Cape May, NJ (64%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Prices and availability in Cape May, NJ were last updated on 22 Nov 2025.
The average rent in Cape May, NJ is $1,483.
In Cape May 37% of the housing is rented out compared to 63% of homes are owned, according to the most recent Census Bureau estimates. 25% of Cape May’s apartments are found in large buildings of 50 units or more, 54% are located in smaller apartment complexes with less than 50 units, and 21% are single-family rentals.
The average age of rental buildings in Cape May is 42 years old, with 26% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 4 stories, of which 69% are garden-style apartment communities, 31% are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.
Rental apartments in Cape May come in a range of sizes and floorplans. Studio apartments represent 14% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 66% of the total apartments in the city, while 2-bedroom floorplans represent around 20% of all rentals in Cape May. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.
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